Gulf Oil and Gas Newsletter June 2008 Vol 6 Issue 26

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Gulf Oil and Gas Newsletter June 2008 Vol 6 Issue 26

7/7/2008 9:17:54 AM

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Gulf Oil and Gas Newsletter June 2008 Vol 6 Issue 26

Newsletter Volume 06 Issue 26

Asia & Middle East Highlights

QPI, PetroChina & Shell sign LOI for refinery and petrochemical manufacturing in China
In the presence of His Highness Sheikh Tamim Bin Hamad Al-Thani, the Heir Apparent of the State of Qatar, Qatar signed with PetroChina Company Limited, and Shell (China) Limited (Shell), a Letter of Intent to commence joint preliminary studies to assess the viability of building a refinery and petrochemical manufacturing complex and marketing its products in China. More...

Eni makes new gas discovery in Pakistan
Eni made a new on-shore gas discovery in Pakistan with the Saqib 1A well, located in the Mubarak exploration block, in the South Eastern province of Sindh. Eni holds a 38% stake in the Mubarak block. The other partners are Petronas Carigali Pakistan Ltd. (operator with a 57% stake) and Government Holding Private Limited (with a 5% stake). More...

RasGas sings a new service agreement with GE Energy
GE Energy signed a multi-million, multi-year service agreement with RasGas Company Limited, covering two LNG trains and Al-Khaleej Gas (AKG) Plant-2 at RasGas' LNG and gas production complex in Ras Laffan Industrial City, Qatar. More...

Saudi Aramco and Total create the Jubail Refining and Petrochemical Company
The Saudi Arabian Oil Company (Saudi Aramco) and Total signed the Shareholders Agreement and other core agreements for the establishment of their joint venture, the Jubail Refining and Petrochemical Company. More...

Africa Highlights @ GulfOilandGas

OCI Receives New Construction Awards for the Skikda LNG Project in Algeria
Orascom Construction Industries awarded two construction contracts by Kellogg, Brown & Root International (“KBR”) for the civil works and piling installation of the new LNG train in Skikda, Algeria being developed by Sonatrach. More...

Petro-Canada and Libyan NOC Sign New EPSA Contracts
Petro-Canada signed six new exploration and production sharing agreements (EPSAs) with the Libyan National Oil Corporation (NOC). The commercial terms of the new agreements, including the signing bonus, match those announced when Heads of Agreement were signed in December, 2007 and were ratified as of the signing, with an effective date of January 1, 2008. More...

Events @ GulfOilandGas

CIOME 2008
The Ministère des Relations Extérieures/ Ministry of External Relations in N'Djamena will be the host of this prominent and strategic event from 8th to 10th October 2008. The event is held under the High Patronage of His Excellency Mr . IDRISS DEBY ITNO President of the Republic of Chad.

ADIPEC 2008
ADIPEC is the largest oil and gas show in the world, attracting more IOC's, NOC's and Operating Companies than any other exhibition. Expected to be a four day mega event - a veritable showcase of the latest in technologies, products, services and trends across the industry - the exhibition has companies from 35 countries including 18 pavilions.

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Oil Market @ GulfOilandGas

The Tanker Market - June 08
Global and OPEC spot fixtures decreased according to preliminary data, with global spot fixtures declining 2% to stand at 20.4 mb/d in May compared to the previous month. OPEC spot fixtures fell by 4% over the same period to stand at 13.5 mb/d. A majority of the OPEC decline came from the Middle East where spot fixtures dropped by 11% on average. More...

World Oil Supply
World Oil Demand
Balance of Supply/Demand

www.gulfoilandgas.com

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